Wednesday, January 23, 2013 5:04 pm
Google, Coach, CSX are market movers
The Associated Press
Coach Inc., down $9.93 at $50.75
The upscale handbag seller said a challenging economy and heavy price-cutting by competitors weighed on its second-quarter results.
CSX Corp., up 87 cents at $21.68
The railroad operator posted a 3 percent decline in fourth-quarter net income, but the results still beat Wall Street expectations.
Advanced Micro Devices Inc., up 28 cents at $2.73
The Sunnyvale, Calif.-based chipmaker reported results for the fiscal fourth quarter that beat Wall Street expectations.
International Business Machines Corp., up $8.64 at $204.72
The technology company reported stronger-than-expected earnings and revenue for the fourth quarter and issued a positive outlook.
RPC Inc., up 58 cents at $14.26
The oil and gas exploration company said its fourth-quarter profit fell 26 percent, but it still beat Wall Street expectations.
Praxair Inc., down $3.25 at $110.77
The industrial gas company's net income slipped 1 percent in the fourth quarter, due to unfavorable foreign currency exchanges.
Google Inc., up $38.63 at $741.50
The Internet search firm said its fourth-quarter earnings rose as online advertisers spent more money in pursuit of holiday shoppers.
MAP Pharmaceuticals Inc., up $9.13 at $24.71
Allergan Inc., the specialty drugmaker, is buying the headache drug developer for $882.5 million to expand into migraine treatments.